VANCOUVER, Sept. 19, 2019 /CNW/ - Pasha Brands Ltd. ("Pasha") (CSE: CRFT) (OTC:CRFTF) (FSE:ZZD), North America's largest craft cannabis brand house, is delighted to announce that its wholly owned subsidiary, BC Craft Supply Co. Ltd ("BC Craft"), has signed over 100 micro-cultivator applicants ("Micros") across Canada to date.
Once licensed, a Micro can produce approximately 500 kilograms of dried flower per year in the 2150 sq ft legally allowed. With these supply deals in place, including the first three Micros licensed by Health Canada, Pasha anticipates being able to bring an excess of 50,000 kilograms of craft cannabis per year to market as more licences are issued. This would make Pasha one of the largest craft cannabis providers in the world.
Tens of thousands of grey market cannabis producers coast to coast still supply as much as 85% of the cannabis Canadians are consuming. Issues with quality, freshness, and availability have plagued legalization so far as industrial cannabis producers strive to grow mass quantities of cannabis. Prices for limited supplies of small batch craft cannabis flower, sold through online Provincial cannabis retailers are now exceeding $20 per gram, and little has been done to address the impact on local economies of not transitioning these farmers.
"Our objective in creating the BC Craft platform was to assist these craft producers in Canada that have been supplying Canadians their cannabis products for decades," said Patrick Brauckmann, Executive Chairman of Pasha, "and help them transition into the regulated market through Health Canada's new Micro licence."
BC Craft enters into a supply contract to purchase a Micro's annual supply, and provides exclusive go-to market plans, with appropriate guidance and resources, in order to receive a micro cultivation licence from Health Canada, as well as market support and infrastructure to get their products to the legal marketplace.
"Reaching this milestone so early in our existence really speaks to the faith craft producers have put in us," said Brauckmann. "They know we share their values, and that we can help them succeed in the legal marketplace in a way they can believe in, by allowing them to do what they do best."
About Pasha Brands
Based in Vancouver, British Columbia, Pasha is a prohibition-era brand house firmly rooted in BC's craft cannabis industry and is developing a nation-wide network of craft cultivators to provide the nation with high grade quality craft cannabis. With proven capabilities in cannabis cultivation, genetic research and development, product processing, and retail, Pasha is uniquely positioned in the new legal cannabis market through its network of hundreds of craft cannabis suppliers under the Pasha umbrella.
Pasha subsidiary, Medcann Health Products Ltd., is a Health Canada licensed cultivator and processor with a licence to sell medical cannabis products in Canada.
Pasha and BC Craft are also developing a craft cannabis campus, which is dedicated to bringing craft quality into the newly legal cannabis market in Canada. BC Craft is driven to assist craft growers in obtaining security clearance and licensing to grow as micro-cultivators, specializing in education and compliance to bring growers into the regulated cannabis supply market.
Pasha's common shares trade on the CSE under the symbol "CRFT" and on the FSE under the symbol "ZZD".
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation, including statements with respect to the representation of Pasha Brands' products across Canada and the expansion of Pasha Brand's business outside of Canada. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Pasha disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE Pasha Brands Ltd.
For further information: Media & Investor Relations Contact: Emerald Asuncion, [email protected], (236) 521-5135